Free Zone Expands in Ciudad Colón

A bill put forward by the Executive extends the benefit of the Colon Free Zone to the streets of the city, and another supports the implementation of the Special System of Freeports in the province.

Tuesday, June 30, 2015

From a statement issued by the Government of the Republic of Panama:

An investment of $600 million has been announced, in 22 projects in the province of Colon.

The Cabinet Council approved on Monday one of the most anticipated projects for Colon because of the economic impact generated in the province of Colon.

After 23 years approval has been given for the modification and addition of articles to Law 29 of December 30, 1992, for the implementation and operation of a Special System of Free Ports for the province of Colon and endorsement for amending Law 18 of June 17 decree 1948, by which the Colon Free Zone (CFZ) is created as an autonomous entity of the State.

Through the first initiative proposed by the licensee of Commerce and Industry, Meliton Arrocha seeks to encourage private investment in conjunction with public investment.



More on this topic

El Salvador: Veto of Free Zone Law Reform

September 2019

Nayib Bukele returned to the Legislative Assembly the reform to the law of Free Zones that granted tax benefits for an additional period of 10 years to companies in the country to increase their investment in 100% with respect to the initially made.

On August 29, 2019, the Assembly informed that the Legislative Plenum endorsed the reform to the Law of Industrial and Commercial Free Zones, establishing that the users of these zones would have a term of 10 additional years (before there were five) to continue enjoying total exemption from taxes, which would be applicable once the period established for the regular enjoyment of this benefit expired.

Tax Exemption on Imports in Colon

October 2018

In Panama, was approved a new law that extends the scope of the Special Free Port System for the province of Colon, through the exclusion of tax payments for the import of goods, both for domestic and non-domestic.

From the statement of the National Assembly:

In the third debate, the National Assembly approved the optimization of the Special Free Port System for the province of Colón (SEPLC) through the exclusion of tax payments for the import of goods, both for domestic and non-domestic.

Colon Free Port is looking for Companies

December 2017

Promotion of the Colon Free Port regime will intensify next year, with tax incentives being offered to companies that settle in the commercial zone located on the Caribbean coast of Panama.

The objective of the law that already allows companies to set up in the 16 streets of the city of Colon, exonerating themselves from the payment of certain taxes, is to reactivate an area which in recent years has failed to take off, despite being one of the main doors of entry and exit of cargo and people on board ships and cruise ships.

A Walmart Distribution Center in Panama?

November 2014

Negotiations are being promoted with the US chain for the installation of a distribution center for Latin America in the Colon Free Zone.

Editorial

Panama reserves supermarket operations for local companies, so there could be confusion over the news report from Prensa.com, which states that "...

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